Published on 10/24/2006 in the Prospect News Biotech Daily and Prospect News PIPE Daily.
New Issue: VioQuest completes $3.95 million stock placement
By Sheri Kasprzak
New York, Oct. 24 - VioQuest Pharmaceuticals, Inc. settled a $3,945,800 private placement.
The company sold 7,891,600 shares at $0.50 each to 71 investors.
The investors received warrants for 2,762,060 shares, exercisable at $0.73 each for five years.
Paramount BioCapital, Inc. was the placement agent.
Based in Basking Ridge, N.J., VioQuest develops and commercializes preclinical and clinical stage therapies for cancer, viruses and autoimmune disorders.
| Issuer: | VioQuest Pharmaceuticals, Inc.
|
| Issue: | Stock
|
| Amount: | $3,945,800
|
| Shares: | 7,891,600
|
| Price: | $0.50
|
| Warrants: | For 2,762,060 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.73
|
| Placement agent: | Paramount BioCapital, Inc.
|
| Settlement date: | Oct. 18
|
| Stock symbol: | OTCBB: VQPH
|
| Stock price: | $0.56 at close Oct. 18
|
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